Republicans name top member of House banking committee

WASHINGTON (Reuters) - A North Carolina Republican will serve as the party’s top member on the House of Representatives committee overseeing banks and financial services, lawmakers announced Thursday.

House Republicans voted to name Representative Patrick McHenry as the ranking Republican on the Financial Services Committee, where he will serve as the main bulwark to Democrats after that party takes control of the panel in January.

In a statement, McHenry said he would work to improve access to banking and financial services, while encouraging regulators to continue their efforts to trim rules.

“In the two years ahead, I look forward to working with my colleagues — both Republicans and Democrats alike — to produce innovative solutions that increase access to banking services and credit for all Americans. In addition, I will work in close consultation with the Trump Administration to ensure their ongoing regulatory relief efforts continue,” he said.

With Republicans poised to serve in the minority of the House for the first time since 2010 following November election losses, McHenry will not be in a position to set the committee’s agenda. That job is likely to fall to Representative Maxine Waters, the panel’s top Democrat, who has yet to be formally named as the committee’s next chair.

McHenry has served in Congress and on the committee since 2005, and currently is the panel’s vice chairman. He has identified financial innovation, housing finance reform and financial inclusion as some of his top policy priorities.